Patient Capital Management LLC Boosts Stake in Precigen, Inc. $PGEN

Patient Capital Management LLC boosted its holdings in Precigen, Inc. (NASDAQ:PGEN) by 62.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,460,848 shares of the biotechnology company’s stock after acquiring an additional 10,192,107 shares during the quarter. Precigen comprises approximately 3.5% of Patient Capital Management LLC’s portfolio, making the stock its 12th biggest holding. Patient Capital Management LLC owned about 0.09% of Precigen worth $87,056,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PGEN. Vontobel Holding Ltd. purchased a new stake in shares of Precigen during the 3rd quarter worth $48,000. Flower City Capital purchased a new position in shares of Precigen in the 3rd quarter valued at about $66,000. Voya Investment Management LLC lifted its stake in shares of Precigen by 142.9% in the first quarter. Voya Investment Management LLC now owns 36,771 shares of the biotechnology company’s stock valued at $55,000 after purchasing an additional 21,633 shares during the period. Strs Ohio purchased a new stake in Precigen during the first quarter worth about $70,000. Finally, BNP Paribas Financial Markets grew its position in Precigen by 134.7% during the second quarter. BNP Paribas Financial Markets now owns 48,803 shares of the biotechnology company’s stock worth $69,000 after buying an additional 28,005 shares during the period. Institutional investors and hedge funds own 33.51% of the company’s stock.

Insider Buying and Selling

In other Precigen news, Director Randal J. Kirk sold 1,900,036 shares of the business’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $4.18, for a total value of $7,942,150.48. Following the completion of the transaction, the director directly owned 341,189 shares in the company, valued at approximately $1,426,170.02. The trade was a 84.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last three months, insiders have sold 4,866,329 shares of company stock valued at $20,233,899. 47.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PGEN. HC Wainwright lifted their price target on shares of Precigen from $8.50 to $9.00 and gave the company a “buy” rating in a research report on Friday, November 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Precigen in a research note on Wednesday, October 8th. Finally, Wall Street Zen cut Precigen from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Precigen currently has an average rating of “Moderate Buy” and an average target price of $8.50.

Precigen Trading Down 0.5%

Precigen stock opened at $4.39 on Wednesday. The stock has a 50-day moving average price of $4.09 and a 200 day moving average price of $3.50. Precigen, Inc. has a 52 week low of $1.11 and a 52 week high of $5.22. The stock has a market cap of $1.55 billion, a PE ratio of -3.16 and a beta of 1.10. The company has a current ratio of 4.04, a quick ratio of 3.95 and a debt-to-equity ratio of 2.22.

Precigen (NASDAQ:PGEN) last released its quarterly earnings results on Thursday, November 13th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.03). The firm had revenue of $2.92 million for the quarter, compared to analyst estimates of $0.67 million. Precigen had a positive return on equity of 1,066.10% and a negative net margin of 3,912.92%. Equities research analysts predict that Precigen, Inc. will post -0.32 earnings per share for the current fiscal year.

Precigen Company Profile

Precigen, Inc (NASDAQ: PGEN) is a biotechnology company focused on the discovery, development and commercialization of genetic medicines. The company leverages proprietary gene and cell therapy platforms to design targeted therapies for oncology, infectious diseases and rare conditions. Precigen’s approach combines synthetic biology, immuno-oncology and microbiome engineering to create precision treatments intended to enhance efficacy while minimizing off-target effects.

The centerpiece of Precigen’s technology is its OmniCAR platform, which enables the rapid generation of adaptable chimeric antigen receptor (CAR) T-cell products.